Nio Inc – (NYSE:NIO – Get Free Report)’s stock price traded down 2.1% during mid-day trading on Wednesday . The company traded as low as $3.81 and last traded at $3.81. 8,066,620 shares changed hands during trading, a decline of 85% from the average session volume of 52,089,910 shares. The stock had previously closed at $3.89.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the company. Bank of America boosted their price objective on NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. Citigroup reduced their price objective on NIO from $10.40 to $8.50 and set a “buy” rating for the company in a report on Thursday, June 6th. Finally, JPMorgan Chase & Co. upgraded NIO from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $4.80 to $5.40 in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.55.
Get Our Latest Stock Report on NIO
NIO Trading Down 4.4 %
NIO (NYSE:NIO – Get Free Report) last announced its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.48 billion. NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. Equities analysts expect that Nio Inc – will post -1.41 earnings per share for the current year.
Institutional Trading of NIO
A number of institutional investors and hedge funds have recently bought and sold shares of NIO. Public Sector Pension Investment Board boosted its position in NIO by 2.0% during the second quarter. Public Sector Pension Investment Board now owns 461,003 shares of the company’s stock valued at $1,918,000 after acquiring an additional 9,100 shares during the last quarter. Profund Advisors LLC boosted its position in NIO by 5.6% during the second quarter. Profund Advisors LLC now owns 183,614 shares of the company’s stock valued at $764,000 after acquiring an additional 9,710 shares during the last quarter. Sei Investments Co. boosted its position in NIO by 4.0% during the second quarter. Sei Investments Co. now owns 195,894 shares of the company’s stock valued at $815,000 after acquiring an additional 7,600 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in NIO by 11.1% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 196,904 shares of the company’s stock valued at $819,000 after acquiring an additional 19,700 shares during the last quarter. Finally, AE Wealth Management LLC bought a new stake in NIO during the second quarter valued at $75,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.
About NIO
NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.
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